1103 Hobart BlvdLos Angeles, CA 90006

This exceptional investment opportunity presents a four-unit apartment building ideally situated in Los Angeles' vibrant Koreatown neighborhood. The property, located at 1103 S Hobart Blvd, boasts a desirable location and strong rental potential. This 1962-built, two-story building sits on a 6,214 square foot lot and features three two-bedroom/one-bathroom units and one three-bedroom/one-and-three-quarter-bathroom unit, making it an attractive option for owner-occupancy. The building is subject to the Los Angeles Rental Stabilization Ordinance. Recent upgrades include newer windows and mini-split air conditioning systems. Individual gas and electric meters, along with individual water heaters, enhance efficiency. Currently, three units are occupied, with one unit undergoing eviction. The property is zoned LAR3 and benefits from a Transit Oriented Community (TOC) Tier 3 density bonus designation, offering redevelopment potential with a 70% increase in allowable unit density. The asking price is $1,095,000, representing a 6.96% cap rate. This value-add asset presents a compelling opportunity for investors seeking a strong return in a high-demand area. The approximately 6,214 square foot lot provides ample space, and the building's central location ensures easy access to local amenities and transportation. This is a lender-owned property, offering a unique chance to acquire a well-located asset at a potentially discounted price.